Why we want stimulus now and worry about deficits later

[saveliberty]

Keynesian economics is a failed option. Delays in spending cuts will just cause more dramatic cuts and suffering later. The stimulus expanded the length of the recession and now threatens a double dip.

 

[grunt11b]

The last stimulus was $1 trillion and it failed. Why would another one be any better?
We need another stimulus so Obama can bribe his way to re-election.

Exactly. Stimulus doesn't work. Deregulating business and getting the epa out of industry's way will boost the economy, not stimulus.

 

[saveliberty]

ilia got her lunch eaten on a similiar thread. Had to run out and start an identical one. lol

 

[Cammmpbell]

Ronald Reagan started the mess we are in today. Ronald Reagan singlehandedly wiped out the political cost of being fiscally irresponsible. That is the single most damaging act our nation has suffered in the last 40 years.

Exactly! He and Bush41 borrowed over $3 trillion 1980's dollars to fund tax cuts for the wealthiest Americans. We may never get straightened out from the mess they and George W. Bush made.

Tax receipts increased after Reagan cut tax rates. No borrowing needed.

LOL....surely you jest!

09/30/1993 $4,411,488,883,139.38(Debt Quadrupled By Reagan/Bush41)

09/30/1992 $4,064,620,655,521.66
09/30/1991 $3,665,303,351,697.03
09/28/1990 $3,233,313,451,777.25
09/29/1989 $2,857,430,960,187.32
09/30/1988 $2,602,337,712,041.16
09/30/1987 $2,350,276,890,953.00
09/30/1986 $2,125,302,616,658.42
09/30/1985 $1,823,103,000,000.00
09/30/1984 $1,572,266,000,000.00
09/30/1983 $1,377,210,000,000.00

09/30/1982 $1,142,034,000,000.00(Total Debt Passes $1 Trillion)

09/30/1981 $997,855,000,000.00

 

[francoHFW]

The stimulus worked, dimwits. So well the economy grew for 30 months straight, even with Pubs fear mongering and paralyzing the whole time, and is now accelerating. A small infrastructure stimulus and no cost pushes on bankers like Obama has asked for should be enough now, or just no MORE "crises" caused by Pub BS will do...

 

[ilia25]

Only an idiot would post such nonsense...

Why don't you provide a graph that shows how the workforce is shrinking????

Unemployment is only measured by workforce (which is shrinking at an epidemic rate) and those actively receiving unemployment..

Those who have exhausted their benefits and remain jobless are NOT factored into the equation - and that number is GROWING EVERYDAY.

You remember those 99er's??? now they've all been eaten by the unemployment singularity...

They'll finally be satisfied when what used to be the middle class has been reduced to the equivalant of a Malaysian day laborer. In other words financial slavery.

Why use income? Why not use total compensation?

Well, dear, why don't you post a chart using "total compensation" so we can all see how that would be different?

 

[saveliberty]

The stimulus worked, dimwits. So well the economy grew for 30 months straight, even with Pubs fear mongering and paralyzing the whole time, and is now accelerating. A small infrastructure stimulus and no cost pushes on bankers like Obama has asked for should be enough now, or just no MORE "crises" caused by Pub BS will do...

It has been in supposed recovery for 30 months idiot.

 

[Toddsterpatriot]

Not sure I understand what you are saying here.

I don't believe that President Reagan gave us a surplus, therefore, borrowing was still needed. I didn't go back to check the accuracy of your statement about increased revenue after cutting taxes, but even if revenue did increase, if it was not enough to "balance the budget" then it was probably still fiscally irresponsible. The truth is that regardless of what one does in regards to revenue, if you are still spending more than you are bringing in, you are borrowing.

By the way, I still think very highly of President Reagan.

Immie

No borrowing was needed to "fund" the tax cuts.
According to this source....

Historical Tables | The White House

Table 1.1
Tax receipts went from $403.9 billion in 1980 to $667.7 billion in 1988.

And that increase was way too small to keep up with spending. We could only balance the budget after Clinton had risen the taxes in the 90s.

And that increase was way too small to keep up with spending.

It's true, we spend too much.
If high taxes are all we need to balance the budget, why wasn't it balanced when the rate was 90%?
We should have run huge surpluses then. Why didn't we?

 

[Oddball]

The deficit in 2002 was 317 billion.

You may or may not have heard that there was a helluva lot of spending that went on, over and above the baseline projections of 1992, that happened between that date and 2002.

Try reading for comprehension next time.

So the trend predictions are useless since no one can predict events that might have a major impact on revenues/spending?

No shit. So why did you bring them up?

Completely irrelevant to the claim of Bubba's tax increase being responsible for the mythical balanced budget and fake "surplus".

The nut of the matter is that the baselines were fairly closely followed in the '90s, to the point that the budget ended up being projected to come into balance by 2002 in 1998, had those baselines been adhered to.

Next stupid diversionary argument?

 

[Immanuel]

No borrowing was needed to "fund" the tax cuts.
According to this source....

Historical Tables | The White House

Table 1.1
Tax receipts went from $403.9 billion in 1980 to $667.7 billion in 1988.

And that increase was way too small to keep up with spending. We could only balance the budget after Clinton had risen the taxes in the 90s.

And that increase was way too small to keep up with spending.

It's true, we spend too much.
If high taxes are all we need to balance the budget, why wasn't it balanced when the rate was 90%?
We should have run huge surpluses then. Why didn't we?

Because we didn't have a liberal in power to save us?

/sarcasm off

Immie

 

[ilia25]

No borrowing was needed to "fund" the tax cuts.
According to this source....

Historical Tables | The White House

Table 1.1
Tax receipts went from $403.9 billion in 1980 to $667.7 billion in 1988.

And that increase was way too small to keep up with spending. We could only balance the budget after Clinton had risen the taxes in the 90s.

And that increase was way too small to keep up with spending.

It's true, we spend too much.

No, we don't. What we spend in barely enough to defend ourselves and to keep the seniors and disabled out of poverty. We have some discretionary things like NASA, but those are peanuts.

If high taxes are all we need to balance the budget, why wasn't it balanced when the rate was 90%?

What do you mean? We had balanced the budget with Clinton era taxes, and if I'm not mistaken, the rates were much lower than 90% in the 90s.

 

[ilia25]

the mythical balanced budget and fake "surplus".

Like we needed another proof that you are a right wing nut in a denial of reality.

 

[Toddsterpatriot]

And that increase was way too small to keep up with spending. We could only balance the budget after Clinton had risen the taxes in the 90s.

And that increase was way too small to keep up with spending.

It's true, we spend too much.

No, we don't. What we spend in barely enough to defend ourselves and to keep the seniors and disabled out of poverty. We have some discretionary things like NASA, but those are peanuts.

If high taxes are all we need to balance the budget, why wasn't it balanced when the rate was 90%?

What do you mean? We had balanced the budget with Clinton era taxes, and if I'm not mistaken, the rates were much lower than 90% in the 90s.

Yes, we spend way too much.

Look at historical rates.
They were higher than Clinton's rates and the budget didn't balance.

 

[Cammmpbell]

the mythical balanced budget and fake "surplus".

Like we needed another proof that you are a right wing nut in a denial of reality.

Forgive them....they stay glued to Faux 24-7

READ H. Res. 306: Expressing the desire of the House of Representatives to not spend any of the budget surplus...
106th Congress: 1999-2000

Expressing the desire of the House of Representatives to not spend any of the budget surplus created and to continue to retire the debt held by the public.

 

[Oddball]

the mythical balanced budget and fake "surplus".

Like we needed another proof that you are a right wing nut in a denial of reality.

The disingenuously dubbed OASI and Medicare "trust funds" were brought on budget and their excess funds siphoned off to the "balance the budget"...Do this in the real world and you go to prison...Do it as a politician and neo-Keynesian socialist party man hacks laud you as a great steward of gubmint finances.

Like we needed any more proof that you are a blind authoritarian socialist central controller lemming.

 

[saveliberty]

Yep, inflation drives up interest rates down the road with this much debt and Greece will look tame compared to the US.

 

[ilia25]

Yep, inflation drives up interest rates down the road with this much debt and Greece will look tame compared to the US.

Spelling out your dreams won't make them real.

 

[saveliberty]

Yep, inflation drives up interest rates down the road with this much debt and Greece will look tame compared to the US.

Spelling out your dreams won't make them real.

Your the one dreaming economic problems are going to go away all on their own.

 

[francoHFW]

The stimulus worked, dimwits. So well the economy grew for 30 months straight, even with Pubs fear mongering and paralyzing the whole time, and is now accelerating. A small infrastructure stimulus and no cost pushes on bankers like Obama has asked for should be enough now, or just no MORE "crises" caused by Pub BS will do...

It has been in supposed recovery for 30 months idiot.

Can you read, MORON? The stimulus worked and also saved GM (according to the GM CEO) and led to 30 months of slow recovery, AS I SAID, and it's now accelerating.

People at the time thought the economy had retracted 3%, but it turned out to be 9%! (great job Booosh and boom and bust Pubs...) The Dems thought they could add more stimulus if needed, but Scott Brown was elected in Jan. 2010, a CATASTROPHE...

 

[saveliberty]

GM's CEO that the government put in place? The bankruptcy worked, not the stimulus. I see you have modified economy grew to slow recovery. Now your getting it a little better.